Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.96% month over month in May. This brought the Manheim Used Vehicle Value Index to 137.0, a 1.9% decrease from a year ago. Access the full report. The latest update of the Manheim Used Vehicle Value Index is released on the fifth … Continued
Sales of certified pre-owned (CPO) vehicles decreased 6% year over year in May but were up 87% month over month compared to April. For May, 237,495 CPO units were sold. CPO sales were on a record-setting pace the first two months of the year before COVID-19 put the brakes on auto sales. Reflecting huge decreases in … Continued
Year-over-year fleet sales continued its remarkable decline compared to the prior year as the combined rental, commercial and government purchases of new vehicles were down 83.2% in May. Total fleet volume in May was 52,203, down significantly from 311,202 in May 2019. Rental units led the drop with a 91.3% decrease year over year in … Continued
Auto sales in May finished at 1,110,609, according to an estimate from Cox Automotive and Kelley Blue Book. The total is down 30.2% from May 2019, but an increase of 57% from April 2020. The sales results last month came in slightly higher than the Cox Automotive forecast, which called for sales to be off … Continued
Signs of an economic recovery are growing as markets slowly reopen and businesses hit the relaunch button. Automotive retail, likewise, continues to slowly improve, driven by pent up demand and the belief that vehicle ownership is essential, particularly in the time of a pandemic. As we close the books on May, the question our team is asking: Was Memorial Day weekend a good one for dealers and consumers? The answer is “yes” and “no.” … Continued
Nissan Motor Co. in Japan reports financial results on Thursday, May 28, for the quarter and fiscal year that ended March 31. Nissan also will unveil its 3-year restructuring plan that day. Even before the global pandemic, Nissan expected weak results for its recent fiscal year. Ahead of those expected weak results, Nissan said it … Continued
Toyota reported earnings last week for the quarter ended March 31, a date that also marked the end of the Japanese automaker’s fiscal year. Toyota reported operating profit fell 28% in the quarter, while net income plunged by 86%. Toyota executives warned that annual profits for this current fiscal year, which ends March 31, 2021, … Continued
Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index for May and general information on segment performance for the first 15 … Continued
Sales of certified pre-owned (CPO) vehicles decreased 46% year over year in April. CPO sales were on a record-setting pace for the year before COVID-19 and ended down 20% month over month compared to March. For April, only 127,068 CPO units were sold.The 46% drop in CPO volume was larger than both the estimated 34% drop … Continued
American Honda reports earnings for its full fiscal year and the quarter that ended March 31 on Tuesday, May 12, at the same time that the automaker begins re-openings its U.S. plants. Here are some data points from Cox Automotive on Honda’s first quarter in the U.S., one of its major markets. Q1 sales and … Continued
